ECONOMY

ECB lowers Greek banks’ ELA ceiling

ecb-lowers-greek-banks-amp-8217-ela-ceiling

The European Central Bank has lowered the cap on the emergency liquidity assistance (ELA) that Greek banks can draw from the domestic central bank by 300 million euros to 71.5 billion euros, the Bank of Greece said on Thursday.

The move reflected improving liquidity conditions in Greece’s banking sector, helped by the stabilization of private sector deposit flows, the Greek central bank said.

[Reuters]